Financial Performance - Revenue for the three months ended June 30, 2019, was HKD 8,524,000, a decrease of 6.2% compared to HKD 9,085,000 for the same period in 2018[4] - Gross profit for the same period was HKD 6,446,000, down 10.2% from HKD 7,178,000 year-over-year[4] - The company reported a loss before tax of HKD 3,047,000, an improvement from a loss of HKD 4,286,000 in the previous year, indicating a 29% reduction in losses[4] - Basic and diluted loss per share was HKD 0.85, compared to HKD 1.23 for the same period in 2018, reflecting a 30.9% improvement[4] - The group's consolidated revenue for the three months ended June 30, 2019, was approximately HKD 8.5 million, a decrease of about 6.2% compared to HKD 9.1 million in 2018[25] - Gross profit for the same period was approximately HKD 6.4 million, down about 10.2% from HKD 7.2 million in 2018, with a gross margin of approximately 75.6% compared to 79.0% in the previous year[25] - The net loss for the period was approximately HKD 3.0 million, compared to a net loss of HKD 4.3 million in the same period last year[25] - Sales of limited edition aged Pu-erh tea cakes significantly declined by approximately HKD 1.6 million, contributing to the overall decrease in revenue[25] Administrative Expenses - Administrative expenses decreased to HKD 9,216,000 from HKD 11,084,000, representing a reduction of 16.9%[4] - Administrative expenses increased due to new advertising campaigns, new lease agreements, and higher costs associated with IT system maintenance[26] Shareholder Information - As of June 30, 2019, the company has 270,000,000 shares held by Profit Ocean Enterprises Limited, representing 75% of the total issued shares[34] - The major shareholders, including Tri-Luck, Wealth City, Tianjing, and Coastal Lion, each hold 25% of Profit Ocean, which is fully owned by the respective individuals[40] - No other individuals, apart from the disclosed directors and major shareholders, hold any interests in the company's shares as of June 30, 2019[41] - The directors and senior management collectively own 270,000,000 shares, each holding 75% in the controlled corporation[34] - The company has no record of any interests or positions held by directors or senior management in the company's shares beyond what has been disclosed[41] - The compliance advisor has confirmed no interests in the company that need to be disclosed under GEM listing rules as of June 30, 2019[45] - The company has established a consistent action arrangement among its major shareholders regarding the shares held in Profit Ocean[35] Compliance and Governance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance and accuracy[10] - The company has appointed KGI Asia Limited as its compliance advisor to ensure adherence to GEM listing rules[45] - The Audit Committee was established on March 14, 2018, in compliance with GEM listing rules, consisting of three independent non-executive directors[47] - The Audit Committee reviewed the unaudited condensed consolidated results for the three months ended June 30, 2019, confirming compliance with applicable accounting standards and GEM listing rules[47] Market and Strategic Outlook - The company continues to operate in the retail business of Chinese tea and related products, with no significant changes in strategy noted[9] - The company remains cautious about opening new stores and counters, aiming to maximize the contribution profit from existing locations[27] - The economic environment remains uncertain, with a GDP growth of only 0.6% year-on-year in the second quarter of 2019, leading to a decrease in consumer spending[27] - There are no indications of market expansion or acquisitions mentioned in the report[4] - The company has not reported any new product launches or technological advancements during this quarter[4] Dividends - The company did not declare any interim dividend for the three months ended June 30, 2019, consistent with the previous year[20] - No interim dividend was declared for the three months ended June 30, 2019, consistent with the previous year[46] Events After Reporting Period - No significant events occurred after the reporting period that would impact the group's performance for the three months ended June 30, 2019[28] Share Pledges and Conflicts - There were no pledges of shares by the controlling shareholders to any contracting parties as of June 30, 2019[42] - The directors are not aware of any competing businesses or interests that may conflict with the company's operations as of June 30, 2019[43]
英记茶庄集团(08241) - 2020 Q1 - 季度财报